Question

in what time will rs 5,000 , rs 6498 at 14% per annum compounded annually and find the interest ​

Answer 1

what is your question I do not understand

Answer 2

Question :- in what time will Rs.5,000 amounts to Rs.6498 at 14% per annum compounded annually and find the interest ?

Solution :-

given,

→ Principal = Rs.5000

→ Amount = Rs.6498 .

→ Time = Let T years.

→ Rate = 14% per annum.

So,

→ Amount = Principal * [ 1 + (rate/100) ]^(time)

Putting all values we get,

→ 6498 = 5000[ 1 + (14/100)]^T

→ (6498/5000) = [ 1 + (14/100)]^T

→ (3249/2500) = [ 1 + (7/50) ]^T

→ (57/50)² = (57/50)^T

comparing we get,

→ T = 2 years.(Ans.)

and,

→ Interest received = Amount - Principal

→ interest = 6498 - 5000

→ interest = Rs.1498 (Ans.)

Hence, Required time period is 2 years and interest paid is Rs.1498 .

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